FTI's strategic comms arm reports flat 2013 after fourth quarter slump

FTI Consulting's communications division saw annual global revenues drop by just under one per cent after a fourth quarter performance hit by a lack of lucrative projects in the US and Europe.

FTI Consulting global CEO Edward Reilly
FTI Consulting global CEO Edward Reilly

The City and corporate PR giant announced global annual revenue last year of $186.2m, slightly down from the 2012 figure of $187.6m.

The strategic comms unit saw its profit margin drop from 13.3 per cent in 2012 to 10.1 per cent last year and EBITDA fall by 25 per cent to $18.7m from $25m.

The company pointed to a tough fourth quarter for the division, which saw revenues decrease 6.8 per cent to $46.9m.

FTI said the division’s performance was impacted by drops in "pass-through revenues" and "high-margin project fees" in the EMEA and North America regions over the last three months of 2013.

Adjusted Segment EBITDA was $5.9m or 12.6 per cent of segment revenues, compared to $8.7m or 17.4 per cent of revenues in the fourth quarter last year.

Overall, FTI saw 2013 group revenues increase by 4.8 per cent to $1.65bn compared to $1.58bn in the prior year period.

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